Boston Scientific’s (BSX) Outperform Rating Reiterated at Evercore ISI

Boston Scientific (NYSE:BSX)‘s stock had its “outperform” rating reiterated by equities researchers at Evercore ISI in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $60.00 target price on the medical equipment provider’s stock. Evercore ISI’s target price would indicate a potential upside of 13.83% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on BSX. Robert W. Baird initiated coverage on shares of Boston Scientific in a research report on Tuesday, July 18th. They issued an “outperform” rating and a $59.00 target price on the stock. Truist Financial upped their price objective on Boston Scientific from $60.00 to $61.00 in a report on Wednesday, July 19th. Oppenheimer lifted their target price on Boston Scientific from $58.00 to $59.00 in a report on Friday, July 28th. CL King assumed coverage on shares of Boston Scientific in a research note on Friday, June 30th. They issued a “buy” rating and a $64.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $61.00 price objective on shares of Boston Scientific in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.57.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.29 on Tuesday, hitting $52.71. The company’s stock had a trading volume of 1,970,238 shares, compared to its average volume of 7,983,353. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 0.80. The stock has a 50 day moving average of $52.26 and a 200-day moving average of $51.62. Boston Scientific has a 12-month low of $37.74 and a 12-month high of $54.99. The company has a market capitalization of $77.18 billion, a price-to-earnings ratio of 87.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Boston Scientific had a return on equity of 15.16% and a net margin of 6.81%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. Boston Scientific’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts predict that Boston Scientific will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 6,600 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $50.40, for a total transaction of $332,640.00. Following the sale, the executive vice president now directly owns 11,396 shares in the company, valued at approximately $574,358.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 6,600 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $50.40, for a total value of $332,640.00. Following the sale, the executive vice president now directly owns 11,396 shares of the company’s stock, valued at $574,358.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 11,671 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $53.95, for a total transaction of $629,650.45. Following the transaction, the executive vice president now directly owns 57,058 shares of the company’s stock, valued at approximately $3,078,279.10. The disclosure for this sale can be found here. Insiders have sold 208,465 shares of company stock valued at $11,053,789 over the last quarter. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in BSX. CGC Financial Services LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $165,000. Western Wealth Management LLC increased its holdings in shares of Boston Scientific by 10.8% during the second quarter. Western Wealth Management LLC now owns 14,396 shares of the medical equipment provider’s stock valued at $779,000 after purchasing an additional 1,407 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Boston Scientific by 620.3% during the second quarter. Orion Portfolio Solutions LLC now owns 76,032 shares of the medical equipment provider’s stock valued at $4,113,000 after purchasing an additional 65,476 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Boston Scientific in the second quarter worth about $34,000. Finally, Resources Management Corp CT ADV grew its position in Boston Scientific by 5,089.4% in the 2nd quarter. Resources Management Corp CT ADV now owns 24,909 shares of the medical equipment provider’s stock valued at $1,347,000 after buying an additional 24,429 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.